This article will compare the features, fees, interest rates, apps, and security of Coinbase vs Bybit vs BYDFI to see which one has more to offer. Furthermore, the below table summarizes the entire article briefly.
What is Coinbase?
Coinbase is a regulated cryptocurrency exchange that was established in 2012 by Brian Armstrong and Fred Ehrsam. Initially, the platform offered Bitcoin brokerage services. However, with the evolution of crypto assets and trading options, the exchange has constantly improved the platform.
Apart from this, the exchange aims to create a more fair, transparent, reliable, and efficient financial system powered by cryptocurrency. Furthermore, the exchange charges high fees but also makes it easy to buy crypto assets.
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What is Bybit?
Based in Singapore, Bybit is a unique crypto derivatives exchange platform that focuses on leverage trading. As a result, it offers up-to100x leverage on trading pairs like BTC/ USD and ETH/ USD. Moreover, it has also built up sizable liquidity in a short period. However, being a user from the USA, you cannot use Bybit due to US regulatory issues. But you can surely use Hola VPN to customize your digital location and then use Bybit. Wanna get into detailed steps? Read How to use Bybit in the USA?
What is BYDFI?
Founded in 2019, BYDFI is a leading cryptocurrency contracts exchange that offers its users a plethora of trading services and a user-friendly trading experience. In addition to it, the platform also provides its users access to premium liquidity. Furthermore, you can also copy other professional traders to automate your crypto trading. To know more, read the BYDFI review.
Features
Knowing the specific features of a platform is wise to maximize one’s profit while trading and taking advantage of the services and products for their benefit.
Coinbase Features
- Coinbase has independent wallets through which you can store and manage your crypto assets. These wallets are fully secure and easy to use and are available as mobile apps for android and iPhone users. Also, you can very quickly send or receive money through your Coinbase wallet by just using the username of your friends.
- Coinbase allows e-commerce merchants to accept cryptocurrencies in their businesses. because of this, they can quickly receive crypto assets on their websites from anywhere in the world
- On logging into your account, you can easily find the ‘For You’ option on the left sidebar in your dashboard. Through this tab, Coinbase provides valuable educational content and news related to cryptocurrency.
- Besides delivering good brokerage services and solutions in the crypto economy, Coinbase has a foothold in early-stage ventures. That is, Coinbase ventures invest in rudimentary and early-stage crypto start-ups with mind-blowing ideas. For more information, you can refer to the announcement blog post by the exchange itself.
Bybit Features
- Users can enjoy margin trading with leverage up to 100x and you can read our guide to Bybit margin trading to understand it better.
- Advanced charting feature available that allows the traders to take part in leveraged trading.
- The range of trading fees varies between 0.025% to 0.075%.
- Bybit offers high liquidity to its traders.
- Trading is available to users all around the world except a few countries including the USA.
- In addition to this, bybit also offers an outstanding feature to set take-profit and stop-loss orders and maintain proper risk management.
- To avoid situations like system overload, it has set up an advanced trading engine that manages 100,000 transactions per second. This means orders are processed at a rapid speed and effectively maintain no-server time.
- Bybit offers a backup service called ‘Insurance Fund.’ This fund assists the traders when the position cannot be liquidated at a better price than bankruptcy price.
- KYC is optional, so there is no personal information at risk.
- Customer service is accessible 24 x 7 via live chat and email and is present in several languages.
- Bybit uses multiple protection layers to ensure the safety of the platform.
BYDFI Features
- Users can trade on BYDFI in numerous cryptocurrencies with leverage up to 125x on crypto and 200x on derivatives. Furthermore, read out guide to BYDFI margin trading to understand things better.
- Users can enjoy crypto-to-crypto trading that allows one to buy prominent cryptocurrencies.
- Trading with BYDFI coin (BYD) can drastically reduce trading fees, and users can also earn extra crypto.
- The website is easy to navigate and aims to provide its customers a smooth and fast trading experience.
- Easy registration feature with only email or mobile number.
- BYDFI supports trade in almost one different cryptocurrency.
- This platform is available in more than eight languages and is active in more than 150 countries.
- KYC authentication is mandatory to establish the safety of the traders.
- Strong security measures like multiple signatures and cold storage for crypto assets have been established.
- BYDFI also offers a warranty of full refund.
- It has a feature to take profit possibilities and stop-loss orders for risk management.
- BYDFI copy trading enables users to learn and copy from experienced traders to maximize their profits.
- Finally, you can earn a welcome bonus of up-tp 258 USD by signing-up using the button below.
BYDFI vs Coinbase vs Bybit: Mobile App
Coinbase App
Just like the web platform, the Coinbase mobile app is a user-friendly way to buy, sell, and manage cryptocurrency. It has high ratings on both the Apple App Store and the Google Play Store, so it’s a great option if you plan to do any mobile crypto trading.
Bybit App
Now users can get access to this unique spot trading platform instantly from their Android and iOS devices. Bybit app strives to give a seamless trading experience to every user through its interactive, user-friendly interface.
Users can track real-time market data from the global spot markets to give reasonable prices, trade effectively, and bring in more profit. Additionally, the app features multilingual support for users all around the globe all the time.
Traders can also enjoy derivatives trading. As a result, they can increase leverage, hedge, and speculate across all contract types.
BYDFI App
BYDFI app is available on both Android and iOS devices. Traders can access trade charts, monitor positions, and place their orders through a single touch. In addition, users can trade on their favorite platform anytime with accessible navigational features and 24 x 7 customer support.
BYDFI vs Coinbase vs Bybit: Fees
Coinbase fees
It not wholly possible to state the exact fee structure of Coinbase as it varies depending on your country and type of transaction. Furthermore, Coinbase is prominent for charging a pretty high amount of fees. However, generally, Coinbase charges deposit fees ranging from 1.49% to 3.99%, depending on the payment method you choose.
| Pricing Tier | Taker Fee | Maker Fee |
| <$10K | 0.50% | 0.50% |
| $10 – 50K | 0.35% | 0.35% |
| $50 – 100K | 0.25% | 0.15% |
| $100K – 1M | 0.20% | 0.10% |
| $1- 10M | 0.18% | 0.08% |
| $10 -50M | 0.15% | 0.05% |
| $50 – 100M | 0.10% | 0.00% |
| $100 – 300M | 0.07% | 0.00% |
| $300 – 500M | 0.05% | 0.00% |
| $500M + | 0.04% | 0.00% |
Bybit Fees
Bybit charges 0.075% from the market takers and gives 0.025% to market makers. It does not charge any deposit fee but charges a minimum withdrawal fee that varies with the cryptocurrency used.
Being a multi-currency margin trading exchange platform, it charges a reasonable price as compared to other platforms.
BYDFI fees
Whenever an order is placed, BYDFI charges a minimum 0.05% transaction fee. Both opening and closing fees are calculated by using this formula- margin*leverage*0.05%. In addition to a transaction fee, an overnight fee is also charged for positions held longer than 12 hours.
It does not charge any deposit fee. However, it sets a nominal withdrawal fee, which is $2 USDT. BYDFI also gives a welcome bonus of 4 USDT to a new user who completes the registration process through the button below.
Coinbase vs BYDFI vs Bybit: Security
Is Bybit Safe?
Bybit has set up several measures to ensure the safety of the website and user’s assets.
- Two-factor authentication via email, SMS, or Google Authenticator is necessary for every customer.
- It has stored all the users’ crypto assets in an array of cold wallets to prevent online theft.
- Transferring funds are regulated with multiple signature addresses. Thus the access to these assets will not be readily available.
- The website is backed with SSL encryption.
- Every withdrawal request has to go through multiple security checkpoints to avoid any types of mistakes.
Is BYDFI Safe?
As far as BYDFI is concerned,
- It urges all the traders to set up a security pin to be entered when making a withdrawal and to ensure no other person other than the user can withdraw the funds.
- SMS authentication is necessary whenever the user is making any essential change like resetting the account password.
- Furthermore, BYDFI has acquired trading licenses from four different countries.
- It also requires email verification for essential tasks such as making a withdrawal and resetting a password.
- It stores login records to identify any unauthorized logins.
Is Coinbase Safe?
It is not a matter of astonishment that Coinbase flawlessly sets security standards in the finance industry. It is clear from the fact that Coinbase is among the handful of exchanges that provide insurance through FDIC.
Coinbase comes out of the USA, and it is evident that it has to satisfy US regulatory security standards. Also, the exchange is very transparent about storing funds of its users. Customer funds are stored separately from company funds.
Customer support
Bybit offers customer support in multiple languages 24 x 7. In addition, users can access live chat features and email support to remove their doubts in real-time. The users can also get in touch with customer support through social media channels.
BYDFI features 24 x 7 email, telegram, and online support for its users. In addition, a live bot is always available to address the concerns of users immediately.
Coinbase provides customer support through emails. Apart from this, it has a vast and diverse knowledge base that it offers through its learn and earn program and extensive FAQ.
Users can also access the FAQs and tutorials to get familiar with the platform and its services. Moreover, the customers can also get in touch with the team via social media channels such as youtube, Reddit community, and telegram.
Coinbase vs BYDFI vs Bybit: Pros and Cons
| Crypto Exchange | Pros | Cons |
|---|---|---|
| Bybit | – Integrated asset change feature available. – One of the lowest trading fees in the market. – Leverage level generally up to 100x. | – New traders might find this platform a little intimidating. |
| BYDFI | – BYDFI Copy Trading – Users can trade in 16 cryptocurrencies. – Demo mode is available to try the interface first. – Trading fees are reduced using BYDFI coins. | – Fiat withdrawal is not possible on this platform. – The platform slows down on sudden market movements. |
| Coinbase | – The exchange offers a beginner-friendly user interface. – The exchange offers high liquidity. – Coinbase offers free crypto through Coinbase Earn. | – The fees charged by the exchange are among the highest charges. |
Coinbase vs BYDFI vs Bybit: Conclusion
Both Bybit and BYDFI are established derivatives trading platforms that are popular for their extensive features. In all, each crypto exchange has implemented good safety features to secure your funds. They all have an excellent and intuitive interface and strive to give their customers a wonderful trading experience.
Frequently Asked Questions
Is it possible to lose more than the initial fund on Bybit?
Bybit has an Insurance Fund for such events, which prevents a user from losing more than the initial fund.
Is BYDFI safe to use?
BYDFI is regulated by four authorities, namely the AUSTRAC of Australia, the ACRA of Singapore, the MTR of Estonia, and the MSB of the United States. Therefore, it has four different licenses that make it trustworthy.
